Various types of drink coolers are known in the prior art. However, what is needed is a drink cooler with cold storage that includes an inner wall disposed circumferentially around a central cavity, the central cavity configured to releasably receive a cylindrical storage shaft slidingly insertable to, and retracable from, the central cavity, wherein items stored inside the storage shaft are kept cool by means of a chilled solution (such as ice water) stored within, and dispensed from, an interior cavity disposed between the inner wall and an insulated outer wall.